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Deutsche Bank Upgrades JPMorgan (JPM) to Buy, Best-Positioned Long Term

January 25, 2013 7:05 AM EST
Get Alerts JPM Hot Sheet
Price: $200.30 +0.39%

Rating Summary:
    22 Buy, 19 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Deutsche Bank upgraded JPMorgan (NYSE: JPM) from Hold to Buy with a price target of $53.00 (from $48.00).

The firm comments, "JPM shares have lagged other market sensitive banks by 30% since the sharp run up in the group that began in early August (likely due to macro optimism and related strength in higher beta stocks, as well as lower CCAR expectations at JPM). But JPM now trades in line on our 2013E and at a discount on our 2014/15e. We expect JPM to highlight $3-5b of cost saves at its investor day (2/26)—half should be incremental to what's known so far. Longer term, we think JPM is the best-positioned market sensitive bank for a pickup in consumer loan growth. Raising 2014E to $5.83 and 2015E to $6.27."

For an analyst ratings summary and ratings history on JPMorgan click here. For more ratings news on JPMorgan click here.

Shares of JPMorgan closed at $46.37 yesterday.


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